The Employees Provident Fund Organisation (EPFO) has extended the deadline for linking the Universal Account Number (UAN) for the Employment Linked Incentive (ELI) scheme to December 15, 2024, from November 30, 2024. Through a post on X, EPFO announced the deadline extension. The government has extended the period for Aadhaar seeding bank accounts in addition to the UAN activation date.
The EPFO released a circular on December 4, 2024
According to EPFO, "Dear Employers, the date for UAN activation and Aadhaar seeding of bank accounts has been extended to December 15th. To profit from the Employment Linked Incentive plan, make sure to do the same for all employees who joined in the current fiscal year, beginning with the most recent hires."
EPFO was expected to extend the deadline for new joinees to activate their UAN. This is due to the government has yet to reveal the details of the ELI Scheme.
What is the Employment-Linked Incentive (ELI) Scheme?
The Central Government proposed three ELI schemesa (A, B, and C) in the Union Budget 2024. The scheme benefits are proposed to be distributed to the beneficiary bank account via Direct Benefit Transfer (DBT), assuming it is connected to Aadhaar.
Scheme A of the ELI initiative will provide a one-month pay to all new entrants into the formal sector. The direct benefit transfer of one month's salary in three instalments to first-time employees, as registered with the EPFO, will be up to Rs 15,000. The pay cap will be up to Rs 1 lakh per month.
Scheme B of the ELI scheme will provide incentives for new manufacturing jobs, provided that first-time employees are hired. The company and employee will get an incentive for their EPFO contributions during the first four years of employment, which will be based on a predetermined scale.
Scheme C of the ELI is an employer-focused initiative that will provide increased employment in all sectors. All extra employment with a pay of Rs1 lakh per month would be counted. For each additional employee, the government would refund firms up to Rs 3,000 per month for two years of EPFO contributions.
How can EPF members activate UAN online?
Below are the procedures that EPF members, particularly new members, can follow to activate UAN online:
Step 1: Visit EPFO's Member Sewa portal.
Step 2: Click the 'Activate UAN' link under 'Important links'.
Step 3: Enter the following information: UAN, Aadhaar number, date of birth, and cellphone number connected to the Aadhaar number. Employees should make sure that their right cellphone number is linked to Aadhaar.
Step 4: Accept the Aadhaar OTP verification. Click 'Get Authorization Pin' to obtain the OTP to your Aadhaar-linked cellphone number.
Step 5: To activate the UAN, enter the OTP.
A password to access your account on the EPFO Member Sewa website will be sent to the registered cellphone number upon activation of the UAN. You will be asked to update your password after logging in.
